A report by CNN Money has put Austin as one of the top cities in the country for people under the age of 35 to move to. According to the report, the Austin area is growing at a rate of roughly 110 people per day!
It is widely believed that many of the people who are flocking to Austin have visited the city in some capacity before making the venture to the city. South by Southwest is a major avenue for young people to start their trek to Austin. Obviously the music scene during the festival draws its share of people, but many also attend for the interactive portion as well. Technological and entrepreneurial minded folks learn during these times that Austin is also rated in the top 10 of best cities to launch a startup business.
The job market in Austin is one of the strongest in the country, with a job growth of 4.2%. Many well established companies have also planted roots in Austin, including Google, Apple, and Facebook helping to make this make Austin one of the new faces of the technological revolution. Not to mention it is the headquarters for Whole Foods.
While the median home price is higher than the national average, it is offset by the higher incomes that can be found in the area. The only issue that is really faced by young millennials moving to Austin is the short supply of inventory for housing. However, there are many projects going on around the city in the the ample space available to keep building to help alleviate the inventory “problem.”